Accounts
What is a savings account
A secure, interest-bearing deposit account held at a bank or credit union that allows you to store money, earn interest (APY), and keep funds separate from daily spending.
(True) or (False) Is it important for students to learn about finances
True
What is money mindset
A set of beliefs someone holds around their money
What is a checking account
A bank account designed for daily, everyday transactions—such as paying bills, receiving paychecks, and making debit card purchases—providing immediate access to funds.
(True) or (False) is a debit card borrowing money and a credit card your own money
False a debit card uses your own money while a credit card uses borrowed money
How can a money mindset be important
it shapes how you earn, spend, save, and invest, influencing every major financial decision you make
What is a certificate of deposit (CD)
A safe low-risk savings account offered by banks or credit unions that pays a fixed interest rate on a lump sum deposit for a set period
What is a money market account (MMA)
A hybrid, interest-bearing deposit account offered by banks and credit unions that combines features of both savings and checking accounts.
What is 401(K)
A employer-sponsored retirement savings plan in the United States that allows employees to contribute a portion of their paycheck, often pre-tax, into an investment account.